Ladbrokes launches master trust pension

Ladbrokes has launched a master-trust pension scheme to comply with auto-enrolment.

The scheme will be available to 14,000 eligible employees, who will be auto-enrolled from 1 March 2013.

It will be provided by Legal and General Workplace Savings, and Pitmans Trustees has been appointed as independent trustee.

Phil Rixon, pensions and benefits manager at Ladbrokes, said: “We are particularly impressed with Legal and General’s commitment to a long-term partnership and to focus on employees’ retirement outcomes through its support for members in both growth and decumulation phases.”

Ian Foster, development director, workplace savings at Legal and General, added: “This appointment reflects the culmination of a 14-month project.

“I am confident that we are ready to meet the challenge of auto-enrolling thousands of eligible staff in a few months time. Our Workplace Savings business has already successfully staged several large employers in the UK.”